Rising energy prices threaten cornerstone of GOP midterm pitch

War-related gasoline price impacts come as House Republicans plot how to sell voters on their megabill.

The price per gallon of gas is shown on a sign as a customer gets fuel at a station in Miami, Florida, on March 9, 2026. | Joe Raedle/Getty Images

DORAL, Florida — The economic fallout from President Donald Trump’s decision to go to war with Iran is imperiling the GOP’s legislative sales pitch ahead of the midterms, with energy price spikes threatening at least some of the pocketbook gains Americans are seeing from the sweeping tax cuts Republicans enacted last year.

Analysts with the Wall Street advisory and investment firm Evercore ISI estimated Monday that the impact on household costs attributable to the current crisis could erase the tax benefits from the “big, beautiful bill” for at least the bottom 30 percent of Americans — even if oil prices come off their $100-plus-per-barrel highs.

Some top Republicans acknowledged rising energy prices are cause for political concern.

© Politico